Floor Talk December 28
Soybeans and grains were slightly lower overnight but could rebound on light volume today. The only fundamental news right now is in wheat -- the bulls are looking at the weather and the bears are focused on demand (or lack thereof, as the case may be). Either way, it seems grains are stuck in this very narrow trading range at least through the start of next week. Soybeans were down 3 cents while corn and wheat were both little changed. In weather news, oh baby it's cold outside (my wife and I were actually talking about how creepy that song is the other day) as wind chills in parts of the Midwest and Plains are forecast to fall from minus-30 to minus-40 degrees. That will cause some serious skin damage if you stay outside for too long. It also is likely causing some winterkill damage in parts of the southern Plains, something growers have been worried about since hearing forecasts of the low temps. Check out all the details in today's 3 Big Things at https://www.agriculture.com/news/three-big-things/3-big-things-today-december-28.
Brent Crude Oil = down 0.2%.
West Texas Intermediate = down 0.1%.
Dollar = down 0.3%.
Wall Street = U.S. stock futures higher in pre-market trading.
World Markets = Global stocks higher overnight.
Re: Floor Talk December 28
We're getting a few inches of snow, more forecast for Friday. Hopefully, that will keep from freezing and breaking pipes. It's dry. A dry, unprotected soil freezes pretty deeply.
It's hard to get very excited about any grain prices right now.